Oil Production

support production of oil from these huge proven and untapped U.S. oil reserves.
Please note that ANWR and off shore reserves are not part of these U.S. reserve totals.
http://nextbigfuture.com/2008/03/bakken-oil-update-for-saskatchewan-and_06.html
http://ezinearticles.com/?Oil-Shale-in-the-Green-River-Formation&id=869140
http://www.nextenergynews.com/news1/next-energy-news2.13s.html
http://minnesota.publicradio.org/display/web/2008/06/04/south_dakota_oil_refinery/?rsssource=1
Carol B.
What the hell question did you read?
Is this one of your blond moments?
I don’t care about off shore and if you went to the links you would be better informed.
I don’t care about your emotional ties to the environment.
I asked a simple question.

Drill Here, Drill Now

Is there an easy way out of the “OIL” mess we’ve gotten ourselves into?

Oil is nearly $100 a barrel. Gas may soon reach $4 a gallon. And Americans are being bitten in almost every way imaginable by this insidious oil hydra.

Two billion people in China and India are now eager consumers. They want the cars, gadgets, and lifestyle that Westerners have claimed as a birthright for a half-century. Their growing energy appetites mean that the international petroleum market may remain tight, even if Americans — who use almost twice as much oil per day as China and India put together — cut back on imported energy.

The Middle East is raking in billions each week. At best, our so-called friends in cash-laden Saudi Arabia subsidize fundamentalist mosques and hate-filled madrassas worldwide. At worst, our enemies in petrol-rich Iran are after the bomb, send weapons into Iraq to kill Americans and fund Hezbollah jihadists.

War in Iraq, rumors of fighting in the near-future in Iran and tension on the West Bank only panic markets raise oil prices and further enrich our grinning enemies.

The nearly half-trillion dollars we will soon pay for imported oil does a lot more than prop up Russia’s Vladimir Putin, Venezuela’s Hugo Chavez and Iran’s Mahmoud Ahmadinejad. The petrodollar drain also contributes to our trade deficits, falling dollar and a general demoralization of the American people.

Our oil habit not only makes us dependent on some creepy suppliers, but we look like fools as we work nonstop to hand over our earnings to those who are rich by an accident of sitting atop oil someone else found and developed.

There is talk in this country of a gradual transition to alternative fuels, solar power, wind machines, plug-in electric cars, and nuclear power. Supposedly Americans will soon be less dependent on imported oil — while helping to slow global warming — as we are weaned off our fossil-fuel addiction.

But let’s talk about the present: If oil continues to climb, ultimately, it will change our very way of life. Hard-pressed families will shell out thousands more a year in direct transportation and heating and cooling costs, and more still as consumer prices inflate.

It may have always been unwise for commuters to buy large SUVs and V8 super cab trucks. Now, though, we may reach the point where these pricey huge vehicles will sputter to a halt. Indebted Americans will still shell out monthly payments to pay off their parked dinosaurs, only to drive them for emergency or ceremonial occasions.

Also expect rising popular anger at an asleep-at-the-wheel government that for the last 20 years should have been doing a lot more to mandate conservation, subsidize alternate fuels, encourage nuclear power and open up oil fields offshore and in Alaska.

Instead, doctrinaire free-market purists and radical environmentalists, hand in glove, for years have thwarted both conservation and exploration.

True, in a perfect world, the market would teach Detroit not to build gas-hungry big cars. Yet in the here and now, we are needlessly burning scarce fuel as too many 7,000-pound mammoths deliver single 180-pound drivers to work — while the auto industry continues on its path to irrelevance.

Meanwhile, green politicians may not want messy oilrigs off their coasts, or tankers up north among the ice and polar bears. But so far very few of them have sworn off jet travel, nice cars or ample homes.

Oil companies claim that they are only passing along escalating costs from overseas suppliers over which they have no control. But around a third of our oil is pumped here at home.

Think about it: The cost to extract oil from existing older wells is relatively fixed. For much of the 1990s and early 2000s, oil prices had been steady at between $20 and $30 a barrel (when adjusted for inflation) — and domestic oil companies did quite well. So now at near $100 a barrel, these corporations are raking additional profits of over $60 a barrel — potentially a domestic windfall of hundreds of billions of dollars each year.

Is there an easy way out of the mess we’ve gotten ourselves into?

Maybe a Silicon Valley genius inventor or entrepreneur will step forward with a breakthrough new energy source.

Maybe our government will start a crash project on the scale of the Manhattan Project to conserve and produce more fuels.

Maybe China and India will consider radical conservation measures.

Maybe countries like Iraq, Libya, and Russia will start reinvesting in their oil infrastructures and double production.

Maybe the Middle East will finally settle down and soothe jittery oil speculators.

Those are too many maybes to wait for while our way of life hangs in the balance. It is past time to demand from our presidential candidates, as well as the current government, exactly when and how they plan to slay this many-headed oil monster.

Yeah, I read the op ed by that Victor Davis Hansen guy in the SF chronicle this morning (on the train as I commuted to work b/c gas is so expensive these days).

My answer is: No, there is no easy way out. Unfortunately, our global,national and even local economies runs on oil. We need to find a way to change our current automobile fleet into one that runs on something we can produce here, be that bio fuel, hydrogen, etc. That is way easier said than done though. Most experts agree there is no magic bullet, that is, there will have to be a comprehensive set of fuels which replace oil. Developing an infrastructure which sustains that for the transition between oil to this new set of fuels will be very challenging.

To the guy that said bio diesel, that is part of the solution maybe, but to switch the entire automobile/trucking fleet to a bio diesel standard would require too much crop acreage unless the internal combustion engine were made more thermodynamically efficient or replaced with something new.

Plus Iran is trying to drive the price of oil Way High, how bad is it going to get
I am glad I have a 4 cylinder Vehicle……
I dont have a source, but I do drive a high performance 4 Cylinder Vehicle, and it will also burn E-85, that stuff burns clean

anyone who says no is a fool, and probably drives a navigator

Dear Customer,

Thank you for your recent communication expressing concern about higher
prices for gasoline and energy products.

We recognize that energy price increases have put a strain on many
household budgets. We also know that some hold the oil and gas
industry
directly responsible for these price increases and quite frankly, this
conclusion is not correct. There are several factors that are helpful
to
consider as we look at what is causing higher gasoline and energy
prices.

Crude Oil

Crude oil, the world’s foremost energy source – is a true global
commodity,
traded freely in markets worldwide. Prices for crude oil, which now
account for well over 60 percent of the price Americans pay at the
pump,
are set on competitive global markets. No single company sets the
price
for crude oil or even influences how these prices are set. Even as the
largest private energy company in the world, ExxonMobil only represents
3
percent of global oil production. We also buy nearly two times more
crude
oil than we produce, as we do not produce nearly enough crude oil to
keep
our ExxonMobil refineries and plants supplied. Also, our crude oil
supply
costs are higher partly due to the weaker value of the U.S. dollar.

Global Supply and Demand

The market forces of supply and demand are the fundamental factors that
influence crude oil prices. Growing demand for transportation fuels,
in
developing nations like China and India alone have driven demand
increases
at twice the historic average in several recent years. Americans drive
around 3 trillion miles per year, almost twice as much as we did in
1980
(1.5 trillion miles), now demanding about 400 million gallons of
gasoline a
day. On the supply side, geopolitical developments have curtailed
production and driven up prices at various points in time.

Industry Earnings in Context

In a high commodity demand/price environment, which currently exists,
industry earnings will generally rise. However, the oil and gas
industry
profits are comparable to other U.S. industries, 9.5 cents for every
dollar
of sales compared to an average of 8.2 cents for all U.S. manufacturers
in
2006. You also might find it interesting to know that 70 percent of
ExxonMobil revenues are generated outside the U.S. And, with respect
to
the price you pay at your local service station, independently owned
operators set those retail prices in competition with one another.
ExxonMobil owns and operates less than 900 of the 170,000 service
stations
in the United States; that is less than 1 percent.

Investing in Tomorrow’s Energy

In our view and probably your own as well, another important question
is
what are we doing with the money we earn? In the past twenty years, we
have invested about $280 billion worldwide on capital and exploration
expenditures to develop new energy supplies — a figure that exceeds
our
total earnings over that period.

Looking ahead, the International Energy Agency has estimated that the
oil
and gas industry will need to invest at least $20 trillion in new oil
and
gas production and infrastructure through 2030 to meet the future
growth in
global demand. Much of this projected growth in energy use is
attributable
to improving living standards for billions of people in the developing
world. Only profitable companies will be able to make the investments
needed to compete in global energy markets and to develop the energy
supplies we will need in the future.

Government Taxes

Stable and impartial tax and regulatory policies are critical to
companies
looking to invest on the scale noted above. You most likely are not
aware
that for every dollar of ExxonMobil’s revenue, on average around 25
cents
is paid to governments, while ExxonMobil earns just over a dime. In
2006,
ExxonMobil earned $39.5 billion, but paid over $100 billion in taxes
worldwide. Over the past five years (2002-2006), ExxonMobil’s U.S.
tax
bill was nearly $60 billion, exceeding our total U.S. earnings during
that
time by over $20 billion. Without question, we are one of the
world’s
biggest taxpayers and are therefore very concerned about the harmful
impacts of current proposals to impose even higher taxes on our
industry.
Our government can help meet America’s growing energy needs by
ensuring
reliable and impartial rules for all energy investments that will allow
American companies to compete internally.

Your email is important to us. We know price increases and our
company’s
earnings have raised questions and deserve explanation. While we hope
that
this response provides you with a better understanding of our company’s
challenges and of the global energy markets in which we participate, we
would encourage you to look at our web site www.exxonmobil.com as well
as
the web site of the American Petroleum Institute www.energytomorrow.org
for
more information.

At ExxonMobil, we’re committed to pricing responsibly and investing
for the
future. Please know that every day our 82,000 employees worldwide are
working extremely hard to provide energy supplies to consumers at
competitive prices.

Again, thank you for taking the time to contact us.

Not only that, but we could solve the problem of using foreign oil easily by drilling in Anwar and off the coast of the US. Reliance on petroleum to produce electricity could be virtually eliminated by building nuclear power plants. The real reason gas prices are so high??? Easy, it is due to the blackmail efforts of environmental terrorists in our country. This problem could have been solved decades ago.

ok,…they can drill enough oil to make all those trillions of tires,…BUT THAT’S IT!!!

There’s no way Obama will be elected. McCain has the troll vote.

I’m doing a current events project for my history class and my topic was oil in Middle East.
Other questions I’m stuck on are..
-What historical event(s) connects to your article?
-Why is this event important?
-What is the thesis of your article?

I’m using ( http://www.ameinfo.com/219943.html ) this article for the project but I’m not sure if it’s a reliable source. I’m really stuck and don’t know what to do right now! Please help, thank you so much

Too little, too late. Iraq dithered while oil prices were high, and only got their act together after oil prices crashed. The global economic collapse thingy will keep oil prices depressed for a long time.

http://www.conocophillips.com/newsroom/other_resources/energyanswers/oil_profits.htm

Why is it every liberal says "well he gets his money from oil"!

What my liberal readers fail to realize is that 55% of the price of a gallon of gasoline is made up by crude oil. Which OPEC controls the vast majority of crude oil production.

Also libs, please take an econmics class. Learn about supply and demand.

Why the connection to Bush? Stay on topic libbies. I don’t want to see your OPINION links. Stick to facts. I know I’m asking a heck of a lot. Now that you have the facts. I know I’ll get a good laugh at your conspiracy theory comments and insults. I really get a good laugh at those.

You may be asking the impossible -when you ask liberals to "stay on topic" . Those who cry Bush & Oil" don’t have a clue . It’s just the short & sweet version when they want to run down our president again , hoping to distract him from the hard tasks he has been dealt . The left is seeing first hand that there’s no reason to stick to facts -when their #1 frontrunner for the ‘08 presidential election , Madame Hillary Clinton has never been one to vouch for "facts " . Even though it was HER husband who made it possible for North Korea to get nukes-she picked Columbus Day to go screeching about President Bush’s policies , as the reason North Korea had nukes . On any given day , the left is screeching Bush & this & Bush & that . Whining cry babies .

http://www.safetyskills.com Rig safety and terminology to protect oil and gas field workers.

Duration : 0:1:41

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Exxon Mobil’s reserves were 72 billion oil-equivalent barrels at the end of 2007 and, at current rates of production, are expected to last over 14 years. The company has 38 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels.[5][6][7]

While it is the largest of the six oil supermajors[8] with daily production of 3.921 million BOE (barrels of oil equivalent) in 2008, this is only approximately 3% of world production and ExxonMobil’s daily production is surpassed by several of the largest state-owned petroleum companies.[9] When ranked by oil and gas reserves it is 14th in the world with less than 1% of the total.[10][11]

ExxonMobil has been accused by major scientific organizations of waging a misinformation campaign aiming to create uncertainty on the issue of global warming.[12][13]

Duration : 0:10:56

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Technorati Tags: alex, cop15, copenhagen, debate, documentary, fox, fraud, Institute, NWO, rtl

Question to Helen Clark and John Key regarding policies preparing New Zealand for the aftermath of Peak Oil (world peak oil production).

Duration : 0:0:30

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Technorati Tags: 2008, election, New, Zealand